In Q2 2011 Spanish housing sector will enter into the final recovery phase. Property market intends to normalize itself and needs only a slight push in the right direction.
Such opinion was voiced by Angel Serrano, the director of Aguirre Newman company. The specialist says that property market recovery is recorded in 25% of Spanish provinces, especially in Barcelona, Navarra and Guipúzcoa. However it would take more time for normalization on the Spanish seacoast property market because of demand decreasing from foreigners and speculators, Kyero reports.
Idealista.com, leading Spanish property portal, reports about next prices’ fall. Owners have decreased their bid prices , by 8,2% yearly. Mark Stucklin, the chief of Spanish Property Insight supposes that this prices fall seem to show buyers’ worsening expectations.
Nowadays the average property prices in Spain work out €2 172 for sq.m., while they were € 2 365 for sq.m. one year ago. The most expensive housing worth €3 418 for sq.m. is situated in Euskadi (The Basque Country) and the cheapest housing worth €1 385 for sq.m. is located in Extremadura. (PRIAN International Property)
